Arrow Greentech hit an upper circuit of 20% at Rs 944.60 after the company's consolidated net profit surged to Rs 20.15 crore in Q1 FY25 as compared wth Rs 9.34 crore recorded in Q1 FY24.
Revenue from operations climbed 50.72% year on year to Rs 66.11 crore in the quarter ended 30 June 2024.Profit before tax (PBT) stood at Rs 27.09 crore during the quarter, steeply higher than Rs 13.28 crore posted in Q1 FY24.
EBITDA jumped 95.13% to Rs 28.1 crore in Q1 FY25 as against Rs 14.4 crore posted in corresponding quarter last year. EBITDA margin improved to 42.4% in Q1 FY25 as against 32.8% in Q1 FY24.
Shilpan Patel, chairman and managing director said, Arrow Greentech has achieved remarkable growth in this quarter. Looking ahead to FY25, our roadmap would be to increase capacity utilization and to explore global markets for niche products where competition is limited, while capitalizing on the cost advantages offered by Indian manufacturers and service providers. As we progress, we remain steadfast in our dedication to fostering growth and delivering significant value to our stakeholders.
Meanwhile, the companys board has considered and approved the re-appointment of Shilpan Patel as a chairman & managing director of the company. This appointment will be effective from 1 April 2025, for a further period of five years, subject to the approval of the shareholders.
Arrow Greentech is specialized in biodegradable and high-tech products, notably as India's largest manufacturer of water soluble films, including innovative solutions like mouth dissolving strips. Internationally, it operates through subsidiaries in the UK and the Netherlands, supporting markets across Europe, Asia, North & South America, and Africa. With 32 patents granted worldwide, including in India, UK, USA, South Africa, Europe, Eurasia, and Russia.
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The scrip hit an all-time high at Rs 944.60 in intraday today.
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